ICBT, one of the leading tertiary education providers in Sri Lanka, has appointed the Commercial Bank of Ceylon as its Internet Payment Gateway (IPG) service provider, enabling the institution’s website to accept multi-currency online payments from both local and foreign students.
The service will cover the authorisation of Credit and Debit cards, and processing of direct payments through Visa, Mastercard and UnionPay branded cards.
The online payment processing of the Campus’ web portal will be facilitated by Commercial Bank through Mastercard Payment Gateway Services (MPGS) which is fully-compliant with Payment Card Industry Data Security Standard (PCI-DSS) requirements. It is a secure e-commerce solution as merchants are provided with ‘server-hosted pages’ whereby card details are processed on the Payment Server and not at the merchant’s end.
Commercial Bank’s IPG solution provides access to a comprehensive set of fraud mitigation tools, supporting both ‘Mastercard Secure Code’ and ‘Verified by Visa’ 3D secure authentication solutions while having a fully automated process to handle ComBank Easy Payment Plans (EPP) and enabling card-on-file transactions through tokenisation, keeping the purchasers’ sensitive card details away from the relevant systems. It provides integration options to systems on multiple languages such as PHP, Java and C Sharp and supports device-optimised payment screens which are designed to offer a seamless experience to users of various devices.
The Bank has also installed point-of-sale (POS) terminals at the ICBT Campus premises, enabling parents or students use their Visa, Mastercard or UnionPay Credit Cards on the terminals and carry out their payments.
Notably, the Bank’s fully automated EPP facility is available for all POS transactions of Commercial Bank Cardholders.
Established in 2000, ICBT has the largest number of students in the private sector higher education industry. The Campus offers Certificate level programmes, Diplomas, Higher Diplomas, Pre-University foundation programmes, Undergraduate programmes and Masters level programmes in association with leading universities and educational service providers in the UK and Australia. ICBT has its purpose built state-of-the-art main campus in Colombo 4 with branch campuses in Kandy, Matara, Galle, Nugegoda, Kurunegala, Jaffna and Batticaloa.
The first Sri Lankan Bank to be listed among the Top 1000 Banks of the World and the only Sri Lankan bank to be so listed for nine years consecutively, Commercial Bank is celebrating its 100th anniversary this year. The Bank, which won more than 50 international and local awards in 2019, operates a network of 268 branches and 865 ATMs in Sri Lanka.
Commercial Bank’s overseas operations encompass Bangladesh, where the Bank operates 19 outlets; Myanmar, where it has a Representative Office in Yangon and a Microfinance company in Nay Pyi Taw; and the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake.